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Sunday, May 20, 2012

Facebook employees now worth an average of $2.9 million

Tech geeks across the Facebook empire celebrated the company’s IPO and their newfound millions by slugging back energy drinks at all-night code-writing parties last Friday.

Every current Facebook employee is now worth $2.9 million. Any other employee after Friday is OYO, lol.

Legions of the social network’s employees, who are now worth an average of $2.9 million apiece on paper when the stock opened on Friday, dressed for the occasion with matching “Hackathon” T-shirts.
They kicked off the party at their Menlo Park, Calif., headquarters, just hours after the company’s 420 million available shares were priced at $38 each.

According to the IPO prospectus, $10 billion in equity will be held by insiders at the social-media site. It’s expected to rival the last hot tech stock, LinkedIn, which went public last May and saw its per-share price jump 109 percent in the first day of trading.

A similar pop would double the average Facebook worker’s net worth to $5.8 million.

In the hours before Zuckerberg and his troops started their celebration, Facebook fever was at critical mass, with big-brokerage clients scrambling to buy in at the offering price.
“This is worse than not scoring an invitation to the best party in high school,” said Manhattanite Fran Carpentier, 57, a publishing and marketing consultant who couldn’t get in on the IPO.

Facebook’s IPO is the third largest in US history, putting it just behind General Motors and Visa. The company tops McDonald’s and Amazon in market value.

Zuckerberg’s IPO put his net worth above Amazon’s Jeff Bezos, who is worth about $18.5 billion. And he will likely surpass Mayor Bloomberg, who is worth $19.5 billion.

Zuckerberg, who controls 55 percent of Facebook’s voting power, saw his net worth rise to $19.1 billion.
The boy-wonder billionaire — who celebrated his 28th birthday Monday — owns 503.6 million shares of the social media behemoth he launched as a Harvard student in 2004.

His net worth will jump an astounding $1 billion for every $2 jump in the stock price.

Congratulations people!!


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